Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Morgan Stanley hires ex BofA banker Rizzo to drive European client push - sources

Published 05/06/2021, 09:56
Updated 05/06/2021, 10:00
© Reuters. FILE PHOTO: A sign is displayed on the Morgan Stanley building in New York U.S., July 16, 2018. REUTERS/Lucas Jackson

© Reuters. FILE PHOTO: A sign is displayed on the Morgan Stanley building in New York U.S., July 16, 2018. REUTERS/Lucas Jackson

By Pamela Barbaglia

LONDON (Reuters) - Morgan Stanley (NYSE:MS) has hired former Bank of America (NYSE:BAC) banker Luigi Rizzo for a new client-facing role overseeing a drive to win business from a wide spectrum of companies across Europe, the Middle East and Africa (EMEA), sources familiar with the move told Reuters.

Rizzo, who was at the helm of Bank of America's European corporate and investment banking and quit in late 2019, will become Morgan Stanley's vice chairman of investment banking for EMEA, the sources said, speaking on condition of anonymity.

Morgan Stanley was not immediately available for comment.

A seasoned dealmaker who started his career at Goldman Sachs (NYSE:GS) in 1993, Rizzo rose through the ranks, becoming a partner in 2008 and working closely with some of Europe's most prominent dealmakers including Diego De Giorgi, now co-CEO at Pegasus Europe.

In 2013 he joined Bank of America to take on top jobs in both M&A and investment banking for the EMEA region, and moved to Paris after the Brexit referendum to oversee the bank's rollout across the EU.

In his new role he will advise clients, including consumer and retail companies, financial institutions and TMT (telecoms, media and technology) conglomerates in their efforts to pursue strategic combinations that could speed up their post-COVID recovery.

The 50-year old Italian, who is also a lecturer at various business schools including Solvay (BR:SOLB) Brussels School of Economics and Management, where he graduated, will be based in London and report to Morgan Stanley's head of investment banking Simon Smith.

© Reuters. FILE PHOTO: A sign is displayed on the Morgan Stanley building in New York U.S., July 16, 2018. REUTERS/Lucas Jackson

His appointment comes as Morgan Stanley - which ranked second after Goldman Sachs in Refinitiv's global M&A league table last year - aims to take advantage of a rebounding M&A market, with an overall $2.4 trillion worth of M&A deals announced globally during the first five months of 2021.

In May alone global dealmaking volumes hit a monthly record of $532.9 billion.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.